Exercise 7-2A (Static) Accounting for uncollectible accounts: allowance method LO 7-1 Skip to question [The following information applies to the questions displayed below.] Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the following events for its first year of operations. Events Affecting Year 1: Provided $84,000 of cleaning services on account. Collected $76,000 cash from accounts receivable. Paid salaries of $28,500 for the year. Adjusted the accounts to reflect managements expectations that uncollectible accounts expense would be $1,650. The expense was determined using the percent of revenue method. Exercise 7-2A (Static) Part c c. Prepare an income statement, balance sheet, and statement of cash flows for Y